9 Tech Trends Transforming Retail

The retail industry's reputation as a technology laggard is beginning to change, say experts.

With the continuing evolution of mobile and other technologies, the shift to omni-channel strategies and continuing evolution of fraud, retailers are looking to technology advancements in 2015 to help them transform their businesses, according to industry experts.

One of the nine most significant retail technology developments in 2015 is the improvement of loss prevention technology. Protection against shoplifting has been an issue ever since merchants started selling goods. Thieves are getting more creative, so retailers must do so as well, says Sean Curran, director of infrastructure and operations practice for Chicago-based consultancy West Monroe. Beyond loss technologies already in place, retailers are starting to look at technologies that leverage facial recognition to recognize people re-entering a store multiple times, and those that analyze data on repeat customers to see if there is any correlation with loss statistics.

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